https://www.taxtmi.com/caselaws?id=289570 The appeal by the 'State Bank of India' challenged the Adjudicating Authority's decision to declare a proposed Resolution Professional ineligible due to past association with 'State Bank of Hyderabad'. The Court emphasized that unless there are pending disciplinary proceedings or specific ineligibilities, a person can be appointed as a Resolution Professional even if associated with a Financial Creditor. The judgment set aside the Authority's order, reinstating the proposed Resolution Professional and directing timely completion of the Resolution Process. Instructions were given regarding the fee and cost claims of the replaced Resolution Professional to be submitted to the Committee of Creditors. en-us Mon, 16 Jul 2018 00:00:00 +0530 Fri, 07 Aug 2020 06:50:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289570 The appeal by the 'State Bank of India' challenged the Adjudicating Authority's decision to declare a proposed Resolution Professional ineligible due to past association with 'State Bank of Hyderabad'. The Court emphasized that unless there are pending disciplinary proceedings or specific ineligibilities, a person can be appointed as a Resolution Professional even if associated with a Financial Creditor. The judgment set aside the Authority's order, reinstating the proposed Resolution Professional and directing timely completion of the Resolution Process. Instructions were given regarding the fee and cost claims of the replaced Resolution Professional to be submitted to the Committee of Creditors. Case-Laws Insolvency and Bankruptcy Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289570